Business
Golden Ridge Resources Commences Drilling at the Heritage Project, Newfoundland and Labrador
(TheNewswire) Kelowna, British Columbia - TheNewswire - October 5...
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":"Golden Ridge Resources Commences Drilling at the Heritage Project, Newfoundland and Labrador\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Kelowna, British Columbia -\n \n \n TheNewswire -\n \n \n October\n \n \n 5, 2020 - Golden Ridge Resources Ltd.\n(\"Golden Ridge\" or the \"Company\") (TSXV:GLDN)\n \n \n (OTC:GORIF)\n \n has\ncommenced drilling on the Eagle Zone at its Heritage project located\non the Burin Peninsula in southern Newfoundland and Labrador.\n \n \n \n Highlights\n \n \n \n - An initial 5,000-meter drill program at the Eagle Zone and other\nhigh priority targets located within the Point May Epithermal System\n(PMES).\n \n \n -Initial drilling at the Eagle Zone will include tightly spaced\ndiamond drill holes around known mineralization and following up on\nhigh-grade ginguro style veins identified in historic drilling.\n \n \n - Additional holes will be drilled to test the extent of\nmineralization along strike and at depth. Currently the Eagle zone\nextends for 750m along strike and approximately 100m of true vertical\ndepth. It remains open along strike and at depth.\n \n \n - The Company will also be reviewing and selectively sampling historic\ncore from previous years drilling that remain unsampled.\n \n \n Michael Blady, President and CEO of Golden Ridge stated: \"We are\nexcited to be drilling at the PMES on the Burin Peninsula. Previous\ndrilling programs conducted at the Eagle Zone have intersected large\nzones of intense silicification and quartz veining with variable gold\nand silver mineralization over core intervals of up to 32 meters.\nAlteration contained within mineralized zones display textures typical\nof low sulphidation epithermal deposits, banded/crustiform veins and\nbladed silica crystals accompanied by low temperature alteration\nminerals typical of these types of deposits.\"\n \n \n \n Airborne Geophysical Data\n \n \n \n Final deliverables from the recently completed high-resolution\nairborne magnetometer survey have been received from the Company's\ngeophysicist. This data is being interpreted and incorporated into\ndrill hole planning and being used to generate targets for a Phase I\nfall prospecting and geochemical program. The results will be released\nonce compiled and interpreted by Company geologists.\n \n \n \n Stock Option Grant\n \n \n \n Golden Ridge has also granted option...